The Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, has ordered a clampdown on marketers hoarding or exploiting consumers following the recent surge in the price of Liquefied Petroleum Gas, popularly known as cooking gas.
This was disclosed in a statement signed by the minister’s spokesman, Louis Ibah, on Monday.
Recalls that the prices of cooking gas rose recently from an average of N1,000 per kilogramme to about N2,000/kg in some locations. This followed the recent strike by the Petroleum and Natural Gas Senior Staff Association of Nigeria during the rift between it and the Dangote refinery.
Almost two weeks after the strike was suspended, the prices of cooking gas refused to go down while the scarcity deepened.
Expressing concern over the development, Ekpo appealed for calm and understanding from Nigerians, assuring them that the situation was temporary and would normalise by next week.
According to him, the sharp increase in price was caused by two main factors — the industrial action by PENGASSAN at the Dangote refinery and the ongoing maintenance activities at the Nigeria LNG Train 4 facility.
The minister explained that the strike by PENGASSAN at the Dangote refinery temporarily halted LPG loading, while the maintenance work at NLNG reduced the volume of gas available in the domestic market.
He said these disruptions led to a shortfall in supply and a consequent rise in prices due to a demand–supply imbalance.
Ekpo, however, said the situation was improving as operations had resumed at the Dangote refinery, with the loading of LPG to the domestic market already underway.
He added that the Bonny River Terminal operated by Seplat Energy had also commenced loading, while NLNG was gradually restoring normal operations as its maintenance neared completion.
“With these developments, supply to the domestic market is expected to stabilise by next week, leading to a gradual reduction in prices,” the minister said.
Ekpo reiterated that the LPG market remained deregulated and urged marketers, distributors, and other stakeholders along the gas value chain to be patriotic in their dealings. He appealed to them to desist from hoarding and refrain from exploiting consumers for profit.
“Ekpo also reiterates that the LPG market is deregulated and appeals to marketers, distributors, and all stakeholders along the LPG value chain to be patriotic in their dealings, desist from hoarding, and refrain from exploiting consumers for profit.
“To ensure compliance, the minister has mandated the Nigerian Midstream and Downstream Petroleum Regulatory Authority to intensify monitoring of LPG depots across the country to prevent product hoarding and other sharp practices capable of worsening the current situation,” the statement added.
The minister reassured Nigerians that the Federal Government remained committed to ensuring sufficient and affordable gas supply to all households across the country.
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